ASEAN Aligns Economic Steps to Address Middle East Conflict Impacts

Cebu, Philippines (ANTARA) - Foreign and economic ministers from across Southeast Asia have agreed to align regional-level coordination to address the impacts of the Middle East conflict on energy, trade, and food supplies in the region.

At the Joint Meeting of ASEAN Foreign Ministers (FM) and Economic Ministers in Cebu, Philippines, on Thursday, the ministers stated that geopolitical conflicts are increasingly causing direct economic impacts felt in the region.

Philippine Foreign Minister Maria Thereza P. Lazaro, who chaired the meeting, said ASEAN must remain coordinated and forward-looking when uncertainties arise due to conflicts in the Middle East.

In particular, the conflict has generated impacts felt in the sectors of food and energy resilience as well as ASEAN public security.

“The impacts of the prolonged conflict have blurred the boundaries between politics and economics,” Lazaro said.

She hopes that ASEAN leaders can agree on a joint statement at the 48th ASEAN Summit on Friday, which will outline joint steps to address the crisis and regional contingency efforts for the future.

“What was initially a conflict in a distant land is now affecting energy costs, supply chains, and economic conditions in ASEAN,” she stated.

Roque said that regional-level responses require close coordination between foreign policy and economic sectors, particularly in maintaining supply chains, ensuring food security, and supporting SMEs.

The agenda forms part of the series of meetings leading up to the 48th ASEAN Summit and related gatherings held in Cebu, Philippines.

Southeast Asian leaders will discuss efforts to address the energy crisis at the summit on Friday, chaired directly by Philippine President Ferdinand Marcos Jr.

Source: PNA-OANA